Cable, has put in a couple of lower highs. Price has formed a double top at 1.5915 and we have a lower low through the support level of 1.5830 area.
Chart below.
In line with the USD strength that we have had in the market this week cable looks good for a test of support at 1.5600.
I have an order to short cable on the pull back to the previous support level of 1.5830.
Entry details and chart below.
Entry: 1.5830
Stop: 1.5870
Target: 1.5630 5%.
I will update as the trade progresses.
Regards
Scott
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